Which statement is true?
A) A perfectly elastic demand curve has an elasticity of zero.
B) Elasticity measures the change in quantity demanded in response to a change in price.
C) Elasticity of demand is found by dividing the percentage change in price by the percentage change in quantity.
D) None of these statements are true.
Correct Answer:
Verified
Q1: If price rises from $2 to $3
Q3: An elasticity of 2 would be considered
A)elastic.
B)inelastic.
C)unit
Q4: If price falls from $100 to $99
Q5: Assume that demand is elastic.Of the elasticities
Q6: An elasticity of 0.75 means that a
Q7: If demand is elastic and price is
Q8: A demand curve that is perfectly horizontal
Q9: If demand is inelastic and price is
Q10: When the price of CD players increases
Q11: The lowest possible elasticity shown here is
A)10.
B)1.0.
C)0.1.
D)0.01.
E)0.001.
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